Australia, US, Japan to invest in Indo-Pacific region

Sydney : Australia, the US, and Japan are set to establish a trilateral partnership to invest in infrastructure and promote economic development and peace in the Indo-Pacific region, the Australian government said on Tuesday.

"This partnership represents our commitment to an Indo-Pacific region that is free, open and prosperous," the Australian Department of Foreign Affairs and Trade (DFAT) said in a joint statement along with the US Overseas Private Investment Corporation (OPIC) and the Japanese Bank for International Cooperation.

The investment projects will focus on infrastructure and sectors such as energy, transport, tourism, and technology that would help to stabilize economies and boost connectivity, Efe quoted the statement as saying.

The partnership is based on a memorandum of understanding to support investment in infrastructure in the Indo-Pacific region, signed between the Australian DFAT and US OPIC during Australian Prime Minister Malcolm Turnbull's Washington visit in February.